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Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March. March 1 Brooks invested $ 2 0 0
Denzel Brooks opened a Web consulting business called Venture Consultants and completed the following transactions in March.
March Brooks invested $ cash along with $ in office equipment in the company.
March The company prepaid $ cash for six months' rent for an office. Hint: Debit Prepaid Rent for $
March The company made credit purchases of office equipment for $ and office supplies for $ Payment is due within days.
March The company completed services for a client and immediately received $ cash.
March The company completed a $ project on credit for a client, who must pay within days.
March The company paid $ cash to settle the account payable created on March
March The company paid $ cash for the premium on a month insurance policy. Hint: Debit Prepaid Insurance for $
March The company received $ cash as partial payment for the work completed on March
March The company completed work for another client for $ on credit.
March Brooks withdrew $ cash from the company for personal use.
March The company purchased $ of additional office supplies on credit.
March The company paid $ cash for this month's utility bill.
Required:
Prepare general journal entries to record these transactions using the following titles: Cash ; Accounts Receivable ; Office Supplies ; Prepaid Insurance ; Prepaid Rent ; Office Equipment ; Accounts Payable ; D Brooks, Capital ; D Brooks, Withdrawals ; Services Revenue ; and Utilities Expense
Post the journal entries from part to the ledger accounts.
Prepare a trial balance as of the end of March.
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